Kite AI has secured $18 million in a Series A funding round led by PayPal Ventures, bringing its total funding to $33 million. The round saw participation from investors including Samsung Next, Animoca Brands, and Hashed.

The company is developing an AI-focused Layer-1 blockchain on Avalanche, designed to support autonomous AI agents with built-in identity verification and payment capabilities. Its proprietary system, AIR, enables AI agents to independently authenticate and transact using programmable identities and stablecoins.

CEO Chi Zhang stated that the infrastructure addresses the need for machine-speed microtransactions in agent-based economies. PayPal Ventures highlighted Kite’s innovative approach to bridging payment gaps for AI systems.

source: Cryptohamster.org

Keep an eye on the daily Telegram news from OnlyTG.